Apollo Hospitals to restructure retail pharmacy business

Saturday, March 25, 2017, 5:39 PM

Apollo Hospitals is looking at restructuring its retail pharmacy business in order to bring down the foreign holding in retail below 51%. The move is expected to help the company get FIPB approval for its pending Rs 750 crore rights issue. The decision comes as FIPB has been holding back its approval for the hospital chain to raise Rs 750 crore from foreign investors.